#Italy #Energy Storage #Enfinity Global #Strioga Family #Livorno

Enfinity Global and Strioga Family Foundation Collaborate on Major Energy Storage Initiative in Italy

In a significant move towards sustainable energy, Enfinity Global has joined forces with the Strioga Family Foundation to advance a 150 MW energy storage project located in the Livorno province of Tuscany, Italy. This strategic partnership represents a co-investment model that will witness the Strioga Family Foundation acquiring a 49.9% stake in the Battery Energy Storage System (BESS), while Enfinity maintains a 50.1% controlling interest, overseeing the project's development, construction, and long-term management.

This 150 MW BESS project is designed to operate with a four-hour duration, providing an energy capacity of approximately 600 MWh. It complements Enfinity's existing portfolio of battery energy storage solutions across Italy, which cumulatively amounts to 6.7 GW. The initiative is poised to enhance the flexibility of Italy's electrical grid, facilitating better integration of renewable energy sources and bolstering energy autonomy, all while improving the price competitiveness of the energy system.

Enfinity’s integrated platform—combining solar energy generation and battery storage systems—has already proven effective, with over 1 GW worth of power purchase agreements (PPAs) secured and collaborations established under Energy Release 2.0 and submissions in the FER X auctions. This strategic development reaffirms Enfinity's lead in Italy’s energy transition.

With this partnership, Enfinity solidifies its relationships with high-profile financial partners, following recent agreements made with Azerbaijan's sovereign wealth fund and undisclosed entities, collectively revolving around portfolios exceeding 1.1 GW in capacity. This partnership exemplifies Enfinity’s strategy of involving minority shareholders in project portfolios, allowing for reinvestment into the Italian energy capacity expansion.

The entry of the Strioga Family Foundation into the Italian energy sector signifies a mutual commitment to fostering the energy transition through crucial investments in energy infrastructure. Established with a social purpose, the Foundation focuses on supporting investments in renewable energies, battery storage, energy technologies, and efficiency projects across Europe.

Gediminas Uloza, CEO of the Strioga Family Foundation, emphasized their proactive approach in seeking partnerships with key players in the European renewable energy sector: "We are thrilled to partner with Enfinity Global, a recognized expert in the Italian market environment. This investment marks our fourth in BESS development, significantly increasing our commitment to Europe’s BESS projects to over 2.5 GWh."

Carlos Domenech, CEO of Enfinity Global, expressed enthusiasm regarding the alliance: "We are excited to welcome the Strioga Family Foundation as a strategic partner. This initiative underscores our capability of securing long-term capital needed for Europe’s energy transition by leveraging our integrated energy platform to implement essential storage infrastructures. Together, we will expedite the establishment of reliable new electricity generation capacities, enhance the resilience of Italy's electrical network, support greater energy autonomy, and address surging electricity demand."

Further, Julio Fournier Fisas, General Manager for Europe at Enfinity Global, stated, "Italy is entering a new phase of its energy transition, where battery storage will play a critical role alongside renewable energy production. With over 600 MW of authorized BESS projects and significant capital structuring expertise, Enfinity is strategically positioned to support this growth, providing the necessary infrastructure to enhance energy security, autonomy, and long-term electricity price competitiveness."

With Advant NCTM advising Enfinity on this operation and the Strioga Family Foundation being guided by Green Horse and Natural Power, this collaboration is set to impact the Italian energy landscape significantly. As both entities work in unison, they contribute to a promising trajectory towards a more sustainable energy future in Italy.